Trulieve Cannabis (NYSE:TRLV) CEO Sells $3,268,000.00 in Stock

Trulieve Cannabis Corp. (NYSE:TRLV) CEO Kim Rivers sold 400,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $8.17, for a total value of $3,268,000.00. Following the completion of the sale, the chief executive officer directly owned 1,913,724 shares of the company’s stock, valued at $15,635,125.08. This represents a 17.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trulieve Cannabis Trading Up 4.8%

Shares of TRLV opened at $8.93 on Friday. Trulieve Cannabis Corp. has a 1 year low of $3.50 and a 1 year high of $13.28.

Key Stories Impacting Trulieve Cannabis

Here are the key news stories impacting Trulieve Cannabis this week:

• Negative Sentiment: CEO Kim Rivers sold 136,811 shares for about $1.2 million, adding to concerns that management may be taking advantage of the stock’s recent strength. Trulieve CEO Sells $1.2 Million in Stock as Shares Jump 148% in One Year
• Neutral Sentiment: Multiple reports highlighted additional CEO stock sales from earlier in the week, including 300,000 shares on June 25 and 400,000 shares on June 24, reinforcing the theme of heavy insider selling. Insider Selling: Trulieve Cannabis (NYSE:TRLV) CEO Sells $2,451,000.00 in Stock
• Neutral Sentiment: Trulieve announced the planned termination of an executive automatic securities disposition plan, which may simply reflect a change in future insider-sale mechanics rather than a direct change in fundamentals. Trulieve Announces Planned Termination of Executive Automatic Securities Disposition Plan
• Neutral Sentiment: Investor commentary also noted Trulieve among “promising” or “best” cannabis stocks to watch, but these mentions were broad sector pieces and did not include a company-specific catalyst. Promising Cannabis Stocks To Follow Today – June 26th

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings initiated coverage on shares of Trulieve Cannabis in a research report on Tuesday, June 16th. They set a “sell (d-)” rating for the company. Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trulieve Cannabis presently has a consensus rating of “Reduce”.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.